The UAE participates in the global ministerial meeting of small and medium enterprises in Johannesburg

Abu Dhabi, August 6/ WAM/ The UAE participated in the first global ministerial meeting of small and medium enterprises, which was hosted by the city of Johannesburg in the Republic of South Africa, with a joint organization from the United Nations International Trade Center (ITC) and the Small Business Development Ministry in South Africa.

At the meeting, the UAE was represented by His Excellency Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism; Where the participation aims to enhance cooperation and exchange of experiences in the fields of entrepreneurship, small and medium enterprises, green economics, financing and digital transformation.

Participation also comes within the framework of the UAE’s vision to enhance international cooperation frameworks, and joint work with various regional and international partners, to support the growth of the small and medium enterprises sector, and enable it to face challenges and achieve sustainability.

His Excellency Abdullah Al Saleh stressed, during his speech, that small and medium enterprises are a pivotal pillar in advancing economic growth at the global level, given the percentage that exceeds 90% of the total companies operating in various countries, and these projects contribute an effective role in providing job opportunities for various groups of society, enhancing economic diversity, and supporting the innovation and creativity environment.

He pointed out that the meeting represents a new station for discussion and dialogue on developing economic initiatives and policies that support the growth and prosperity of small and medium enterprises and find appropriate solutions to the challenges that stand in front of it, on top of which is the difficulty of obtaining the necessary funding to expand its activities and within the sustainability of its business.

He added that the UAE, thanks to the directives of its wise leadership, paid great attention to the development of a legislative and organizational system for small and medium enterprises depending on best practices in this regard, as small and medium -sized companies today acquire 95% of the total companies operating in the country, and nearly 86% of the size of employment in the private sector.

He explained that the state is home to more than 50 incubators and speed of governmental and private businesses, as it ranked first globally for the fourth year in a row in the World Entrepreneurial Observatory report for 2024/2025, which ranked it as the best place for entrepreneurship and small and medium enterprises, among 56 economies included in the report for this year.

It highlights the potentials and opportunities of financing provided by the authorities and institutions by the government and private sectors in the country, which provide training and financing for small and medium enterprises throughout the UAE.

His Excellency reviewed the national initiatives and projects that the Ministry of Economy and Tourism worked to develop to enhance the competitiveness of the entrepreneurial environment and consolidate the UAE’s position as a leading destination for small and medium enterprises, including launching the entrepreneurial system and the leadership fund, and the digital platform for the “entrepreneurship home”, which contributed to enhancing the linking of entrepreneurs with training and financing opportunities, in addition to raising the percentage of the contribution of small intermediate companies in The tenders and contracts for government purchases of the federal authorities to 10%, while providing technical support and training to enhance their participation in these tenders.

It is noteworthy that the first global ministerial meeting of small and medium enterprises witnessed the participation of more than 700 people from ministers, officials, private sector leaders and entrepreneurs from more than 60 countries, to discuss ways to support and empower small and medium enterprises worldwide.

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